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Is Accidental Death Insurance
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cook466
Posts: 10 Forumite
Going through all our DD etc I have found three going out for Accidental Death Insurance - Its not expensive but is it worth it? I can't find anything on this site for or about it and am in the dark. Please someone let me know if it is useless?::o
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waste of money. Many companies give it away as an incentive or addon. Paying for it is wasteful.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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My ex has discovered that she has been paying £8 a month for accidental death insurance. She has written to Barclays asking for when she agreed to this as she is sure she didn`t. If so,then she wants the premiums back. I told her that there might have been a box somewhere that said `tick if you don`t want this`.0
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Thanks for that - I think I will just get them cancelled. They keep sending us 'offers' to increase it which look really good but I doubt my husband when he does keel over will be in the 'right' kind of accident and therefore not get the dosh !!0
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I've always thought this a bit of an odd insurance.
Straight forward life insurance pays out when you die - more often than not, irrespective of the cause of death. Many will pay out on suicide, but there might be some modern day terrorist exclusions.
However .. the point is that life insurance pays out if death is accidental.
Accidental Death Insurance ONLY pays out if death is by accident, so it wouldn't cover illness, disease, natural causes etc.
As others have said, because the risk is so low, the premium is very cheap. But the chances of it paying out are slim.
OTOH, if you're a cack-handed clumsy oaf with two left feet, you might think it's worth it
but not if you already have insurance, as well Warning ..... I'm a peri-menopausal axe-wielding maniac
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